Coindirect Review 2023
- What Is Coindirect?
- How Does Coindirect Work?
- Is Coindirect Regulated?
- Pros and Cons
- Registration Process
- How to Buy & Sell Cryptos on Coindirect?
- Deposit and Withdrawal Methods
- Accepted Payment Methods
- Supported Currencies & Countries
- How Is Coindirect Different From Others?
- Mobile App
- Customer Support
With the growing popularity of cryptocurrency, more and more people are now seriously investing in crypto sites. Many new crypto trading sites are also emerging in the market. Coindirect is one such crypto brokering and wallet service exchange that allows customers to buy Bitcoin and other various cryptocurrencies with the help of their debit or credit cards and other methods of instant purchase. The firm came into existence in 2017, and its headquarters are located in the Isle of Man, which is a popular site for Bitcoin exchanges to set up shop between the United Kingdom and Ireland. Investors across the world can use the service, which is a straightforward way to purchase new digital currencies. In this Coindirect review, we will focus on the features of the crypto trading site and also comment on its pros and cons along with other relevant details that one needs to know before starting to invest.
|Supported Fiat Currencies||USD, GPB, EUR, NGN, ZAR, and AUD|
|Supported Countries||Selected Countries|
|Transaction Fees||Depends on Currency & Payment Methods|
|Withdrawal Fees||Depends on Currency & Payment Methods|
|Customer Support||24/7 via Email and FAQ section|
What Is Coindirect?
Coindirect is a cryptocurrency exchange and peer-to-peer marketplace that allows people to trade and sell cryptocurrencies and tokens quickly and simply. The Coindirect crypto marketplace harbors the ambition to become the finest one portal service for all digital currency owners by making buying, selling, and storing cryptocurrencies simple and straightforward. Currently, the investors can trade more than thirty digital currencies including XMR, EOS, IOTA, ETH, BTC, and TRON to name a few.
How Does Coindirect Work?
Coindirect cryptocurrency works in a rather simple and straightforward manner. In order to start trading on the platform, users have to sign up on the website by following an easy and fast sign-up process. Once they have signed up, some of their personal details would be verified and they will be eligible to start trading cryptocurrency on the platform.
Coindirect exchange has a number of features that are greatly beneficial to customers. In this Coindirect review, let us look at some of the top features that Coindirect offers to its users:-
Availability of Different Currencies
When users choose to trade on Coindirect as per online reviews, they get the liberty of trading with Bitcoin or thirty more different types of altcoins that include Dash, Litecoin, Dogecoin, and Siacoin.
According to other reviews, one of the best features of Coindirect is that while trading here, users get to manage all their trading and investments on a single, safe, and secure exchange.
Sell, Buy and Convert
Various cryptocurrencies can be bought, sold, and converted on this platform. Sellers have complete control over their prices, whereas consumers have a wide range of options to choose from different cryptocurrencies.
New Wallet Creation With Ease
Coindirect exchange ensures that its users get to create new wallets for every new cryptocurrency they want to invest in without much hassle.
Safe and Secure Transactions
Coindirect secures payments by moving funds to a designated location (escrow) until the transaction takes place. Additionally, it is registered with the Isle of Man Financial Supervision Commission and employs the same security measures as banks.
Is Coindirect Regulated?
Coindirect crypto exchange is a completely regulated trading platform, and the users of this trading site can be certain about the security and safety of their invested assets.
Coindirect Review: Pros and Cons
|Coindirect offers a great range of cryptos to select from.||It can sometimes prove to be difficult to verify the reputation and trustworthiness of a platform like Coindirect.|
|The crypto exchange is extremely well explained and intuitive in nature, which makes it easier to operate.||Various traders have given mixed feedback to Coindirect.|
|The fee structure offered by Coindirect is clear in nature and therefore, there are fewer chances of scams and frauds.||Though not very high in number, there have been claims of the platform being fraudulent in nature.|
Registration Process of Coindirect
Registering on Coindirect is easy compared to other cryptocurrency exchanges. Below are the steps:-
- As the first step, users will need to go to their website and click on the ‘sign-up button.
- Then they will then be redirected to a new page where they will be asked to provide their email address and create a password for the user account.
- Once that is done, users will have to finish the reCAPTCHA test and verify the email address.
- After finishing these simple steps, users will be registered on the site and be able to start trading cryptocurrency without any delay.
How to Buy and Sell Cryptocurrencies on Coindirect?
After registering their account on Coindirect, users will need to verify some personal details after which they will be eligible to start buying and selling cryptocurrency coins on the exchange. They will also be required to add the preferred payment method and be able to choose among bank transfer, online payment, mobile money, PayPal, and M-PESA.
By default, the user’s Coindirect dashboard includes wallets for Bitcoin (BTC), Ether (ETH), and Tether (USDT). The Wallets button may be used to install more wallets. Users may then select the cryptocurrencies they wish to add by clicking on “Add Wallet.”
Once the identity has been validated, users may begin trading cryptocurrencies by going to the ‘Buy Coins’ option, choosing the local currency they wish to pay in, and choosing the crypto they wish to purchase.
After selecting the cryptocurrency they would like to buy, clicking on the additional ‘buy’ button will help users to view relevant details like the name of the seller, the available offers along with the prices of those offers.
For selling, users need to go to the tab labeled “Sell Coins.” Bitcoin is the sole coin available for purchase on the Coindirect interface. Coindirect exchange, on the other hand, allows users to sell over thirty different cryptocurrencies; however, all Altcoins must first be converted into Bitcoin. This is a straightforward procedure according to Coindirect reviews. The operation is carried out via the Wallets tab’s transfer feature. And, it is very essential to choose the best cryptocurrency wallets, we have listed some, read out to know more.
In this Coindirect review, we will also look at the trading fees that the site charges its consumers. The best thing about Coindirect exchange is that it is very open about its fee structure and the way it works.
The exchange charges one percent of trading fees when a customer sells coins. The trading platform does not charge any fee for buying coins. There are no additional or hidden trading fees for transferring, sending, or receiving coins. Thus, the site is competitive when it comes to trading fees. To know more about its fee schedule, click here.
Coindirect Deposit and Withdrawal Methods
As a deposit method, Coindirect exchange offers the method of wire transfer. However, depositing with the help of a credit card is not yet possible on the exchange. It hopes to soon add this feature, as is specified on the platform website. The site does not charge any withdrawal fees if one wishes to withdraw BTC from Coindirect. The only fee to be paid is the network fee.
Coindirect Accepted Payment Methods
Coindirect exchange accepts a variety of payment methods. The methods are mentioned below:-
- Bank Transfer: The site allows both national and the same bank transfers.
- Online Payment: PayPal is the accepted online payment method that Coindirect allows.
- Mobile Money: Users can use M-PESA as an accepted mode of payment on the exchange.
Coindirect Supported Currencies and Countries
Coindirect offers its users a variety of cryptocurrencies to choose from. Some of the fiat currencies include USD, GPB, EUR, NGN, ZAR, and AUD.
The exchange currently accepts registration from the following countries: South Africa, Nigeria, Kenya, UK, Canada, Australia, Belgium, Finland, Netherlands, Singapore, Spain, and South Korea, to name a few.
How Is Coindirect Different From Others?
Coindirect exchange is different from other cryptocurrency exchanges on the basis of its fee structure and the availability of currencies to choose from. The site offers its users a huge range of cryptos to choose from and the aspect of the security of the site is well taken care of.
There are no hidden trading fees or charges that the trading platform demands from its users and the fee structure are clear and straightforward. It has also made sure the issues that customers face are taken care of. Coindirect also share a customer support team besides helpful resources on its website.
Coindirect Mobile App
To make the trading experience smoother for its customers, as per our Coindirect review, it has developed a mobile application that is available on both iOS and Android phones. With the help of this mobile application, customers are able to trade anytime, anywhere as per their convenience without having to visit the website.
Security of Coindirect
The review, tells that the Coindirect exchange claims to utilize security procedures that are comparable to those used by major financial institutions. Coindirect also protects its users with a cold wallet and 2FA (Two-Factor Authentication system). Additionally, transaction-based funds are held in an escrow account till the transaction takes place on the platform. Besides this, the sellers and buyers on the site are rated with one to five stars. This helps users to check which sellers and buyers have decent ratings and thus proceed accordingly to purchase or sell crypto.
Coindirect Customer Support
As per the Coindirect reviews, while trading on the Coindirect exchange, one can be assured of readily available support. Its customer support is accessible via emails on a 24*7 basis. Besides that, they have a very well-organized FAQ section on the website which not only covers the most basic questions but also contains insightful materials that help users better understand trading if they are new to the field. The fact that the site does not yet have live chat or call-based customer support takes a little away from its credibility. However, Coindirect has tried to make up for it with the resources available on the website. It also share social media account which can be helpful in time of need.
Coindirect Review: Conclusion
The Coindirect crypto exchange reviews tell us despite being a relatively newer exchange, it has swiftly established itself as an outstanding exchange for buying and selling a variety of digital currencies. The user interface is identical to that of other peer-to-peer markets, such as LocalBitcoins, and it is simple enough to be used by both novices and advanced crypto traders. Despite Coindirect exchange being legit and a secure platform, customers should ensure that they have researched well before they start trading on it.
Is Coindirect Safe?
Yes, Coindirect is a completely safe and secure exchange to trade cryptocurrencies where the user’s digital assets will be well taken care of.
Can You Buy Dogecoin on Coindirect?
Yes, Dogecoin is available to trade on Coindirect.
Where is Coindirect Based?
Coindirect exchange is based in London, UK, and has been in existence since 2017.
Is Coindirect a Good Wallet?
Coindirect, despite being a relatively newer member of the crypto trading ecosystem, is quite a good wallet and offers services like other reputable crypto trading exchanges.
How Does Coindirect Verify?
Coindirect exchange follows a 2-factor authentication process to ensure that people using its site are properly verified. Thus the chances of frauds and scams are greatly reduced.